Mercer to Acquire Hammond Associates

Upon completion of the transaction, Mercer plans to build up
Hammond’s position as the third largest investment consulting firm
serving endowments and foundations in the U.S., according to a news release. Mercer said the acquisition enhances its alternative research and investment capabilities and
provides additional consulting opportunities in the private wealth and
health care markets.

The announcement noted that from 2005 to 2009, endowment and foundation funds
using investment consulting services grew at a compound rate of 10%
annually, compared to a 5% annual rate of growth for both corporate and
public funds in the U.S., according to data from Greenwich Associates.

The transaction is expected to close at the end of 2010. Terms of the agreement were not disclosed.